Promotion methods available to a marketing manager.
1) Briefly explain the nature of the three basic promotion methods available to a marketing manager. What are the main strengths and limitations of each?
2) In your own words, discuss the integrated marketing communication concept. Explain what its emphasis on “consistent” and “complete” messages implies with respect to promotion blends.
3) Identify the strategic decisions a marketing manager must make in the advertising arena.
Sample Solution
Promotion methods available to a marketing manager
Promotions is the part of marketing that specifically involves communicating company or product information to targeted customers. This is a key component of the broader marketing system. Different forms of promotion make customers aware of you, attracted to your brand, interested in buying, and ultimately becoming loyal customers. Advertising, public relations and direct selling are three proven methods of effective promotion, though social media marketing has become a powerful tool for driving sales at less cost than traditional methods. Advertising takes up a significant portion of a company`s budget allocated toward marketing and promotion. It includes the development and paid delivery of brand or product messages through media. Strengths of advertisement include increased sales, enhanced good-will, and educates the consumers. Disadvantages of advertising: adds to the cost of production and product; leads to price war; creates a monopolistic market; unequal competition; and decline in moral values.
